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Now What?

November 07, 2020
The dollar fell hard last week.  After several failed attempts, it broke below JPY104 for the first time in eight months.  Despite Beijing's ostensible efforts to moderate the yuan's upside pressure through various administrative policy adjustments, it reached new two-year highs.  The Mexican peso, the second most actively traded emerging …
Now What? Now What? Reviewed by Marc Chandler on November 07, 2020 Rating: 5
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A Pause that Refreshens?

November 06, 2020
Overview:  Investors have piled into risk assets this week, seemingly undeterred by the US elections' lack of a clear outcome.  The coronavirus is still surging, and a new complication has emerged.  A mutation of the virus, originating in minks (Denmark), could pose a challenge in developing a vaccine.  MSCI Asia Pacific Index rose for the fif…
A Pause that Refreshens? A Pause that Refreshens? Reviewed by Marc Chandler on November 06, 2020 Rating: 5
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The Dollar Slides and the Yuan Jumps

November 05, 2020
Overview: The markets did not wait for the final vote count and took stocks and bonds higher while pushing the greenback lower. While it appears Biden will be the next US President, investors seemed to like the fact that his agenda will be checked by a Senate that may remain in Republican hands.  Stocks are on a tear.  Led by more than a 3% advanc…
The Dollar Slides and the Yuan Jumps The Dollar Slides and the Yuan Jumps Reviewed by Marc Chandler on November 05, 2020 Rating: 5
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Indecision Keeps Investors on Edge, but the Dollar Rides High

November 04, 2020
Overview:  Initially, the markets built on Tuesday's price action, but as soon as a few counties in Florida indicated that it was not going to be the "blue wave," risk came off, and it was most evident in the bond and currency markets. Equities rallied in the Asia Pacific area, and all but Hong Kong, Australia, and Indonesia advanced…
Indecision Keeps Investors on Edge, but the Dollar Rides High Indecision Keeps Investors on Edge, but the Dollar Rides High Reviewed by Marc Chandler on November 04, 2020 Rating: 5
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Risk Appetites Return as the US Goes to the Polls

November 03, 2020
Overview: More than 95 mln Americans voted before today, and many observers warn of a cliffhanger that could be decided in the courts.  The polls and surveys show strong odds in favor of a Democratic sweep.  Looking at the capital markets, nothing looks amiss.  The biggest rally in the S&P 500 in three weeks yesterday (1.2%) underpinned the re…
Risk Appetites Return as the US Goes to the Polls Risk Appetites Return as the US Goes to the Polls Reviewed by Marc Chandler on November 03, 2020 Rating: 5
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Shaken not Stirred

November 02, 2020
Overview:  The global capital markets have begun the week with a better tone than last week ended.  Equities are higher.  In the Asia Pacific region, Japan, South Korea, and Hong Kong led with more than a 1% advance, and the MSCI Asia Pacific Index snapped a three-day slide.  Stocks in Europe are higher for a second day, and the 1.2% gain in late-…
Shaken not Stirred Shaken not Stirred Reviewed by Marc Chandler on November 02, 2020 Rating: 5
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November Monthly

November 01, 2020
Several issues that have cast a pall over the business and investment climate are likely to be lifted shortly.  Many still fear that the results of the US election will not be known for an extended period of time, but we note that a metric of fear, the difference between November and December VIX (S&P volatility) futures was at a six-month low…
November Monthly November Monthly Reviewed by Marc Chandler on November 01, 2020 Rating: 5
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A Technical Word Ahead of Macro Events

November 01, 2020
The dollar had been trading heavily, but it seemed as we entered the last week of October that it was unreasonable to look for a downside breakout given the new acute contagion in Europe and what by all accounts would be a dovish ECB press conference.  Nevertheless, the dollar's strength was more than we anticipated.  While the Reserve Bank of…
A Technical Word Ahead of Macro Events A Technical Word Ahead of Macro Events Reviewed by Marc Chandler on November 01, 2020 Rating: 5
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